Stone Summit Wealth LLC Sells 7,348 Shares of United Parcel Service, Inc. (NYSE:UPS)

Stone Summit Wealth LLC decreased its holdings in United Parcel Service, Inc. (NYSE:UPS) by 66.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,664 shares of the transportation company’s stock after selling 7,348 shares during the quarter. Stone Summit Wealth LLC’s holdings in United Parcel Service were worth $403,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of UPS. Altus Wealth Group LLC boosted its holdings in shares of United Parcel Service by 4.6% during the 4th quarter. Altus Wealth Group LLC now owns 2,022 shares of the transportation company’s stock worth $255,000 after purchasing an additional 89 shares during the last quarter. Colonial Trust Co SC lifted its position in United Parcel Service by 1.4% during the fourth quarter. Colonial Trust Co SC now owns 7,227 shares of the transportation company’s stock worth $911,000 after buying an additional 98 shares in the last quarter. Juncture Wealth Strategies LLC boosted its stake in United Parcel Service by 2.5% during the first quarter. Juncture Wealth Strategies LLC now owns 4,124 shares of the transportation company’s stock worth $454,000 after buying an additional 101 shares during the last quarter. Cohen & Steers Inc. grew its holdings in United Parcel Service by 5.3% in the 4th quarter. Cohen & Steers Inc. now owns 2,054 shares of the transportation company’s stock valued at $259,000 after buying an additional 104 shares in the last quarter. Finally, Diligent Investors LLC increased its stake in shares of United Parcel Service by 1.7% in the 4th quarter. Diligent Investors LLC now owns 6,722 shares of the transportation company’s stock worth $848,000 after acquiring an additional 111 shares during the last quarter. Institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Up 1.4%

Shares of United Parcel Service stock opened at $100.77 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. United Parcel Service, Inc. has a 52-week low of $90.55 and a 52-week high of $148.15. The company has a market capitalization of $85.33 billion, a P/E ratio of 14.69, a P/E/G ratio of 1.75 and a beta of 1.22. The company has a 50 day moving average of $98.08 and a 200 day moving average of $110.89.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Tuesday, April 29th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.11. The business had revenue of $21.50 billion during the quarter, compared to analysts’ expectations of $21.25 billion. United Parcel Service had a net margin of 6.44% and a return on equity of 40.15%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $1.43 EPS. As a group, research analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Monday, May 19th were given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 6.51%. The ex-dividend date of this dividend was Monday, May 19th. United Parcel Service’s dividend payout ratio (DPR) is presently 95.63%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on UPS shares. Wall Street Zen cut shares of United Parcel Service from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Bank of America boosted their target price on shares of United Parcel Service from $111.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of United Parcel Service in a report on Friday, March 7th. They set a “hold” rating and a $119.00 price target for the company. Raymond James Financial decreased their price objective on United Parcel Service from $145.00 to $130.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 9th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $98.00 price objective (down from $120.00) on shares of United Parcel Service in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $120.26.

United Parcel Service Company Profile

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.